The African Export-Import Bank (Afreximbank) and international consultants Development Reimagined (DR) have partnered to facilitate the introduction and successful marketing of premium sustainable African brands within the Chinese market.
This initiative aligns with Afreximbank’s ongoing strategy to help African businesses grow and foster their expansion onto the international stage.
The collaboration, which includes financial support from Afreximbank has led to Africa Reimagined (AR), a key project by DR, bringing premium African products like fashion items, skincare products, and beverages to China.
The AR group headed Africa’s involvement in the 2023 China-Africa Economic and Trade Expo (CAETE) in Changsha, held from June 29 to July 2.
This highlighted the partnership’s commitment to enhancing trade ties between China and Africa, while also making the most of the chance to boost development.
The event accomplished remarkable milestones. These include showcasing the highest-ever count of premium African brands, with multiple brands effectively selling out their products and establishing valuable business connections to expedite their introduction into the Chinese market.
Moreover, these brands engaged in numerous interviews with Chinese media outlets like CGTN, Mango TV, and China Financial News, in addition to an exclusive interview with the BBC World Service.
Advancing Africa-Chinese Trade Partnerships
Yusuf Daya, the Director of AU/AfCFTA Relations and Trade Policy at Afreximbank commented that they are upbeat about the partnership with Development Reimagined and urged African entrepreneurs to embrace this opportunity
“The vast Chinese consumer market provides immense opportunities for African businesses. We urge African entrepreneurs to embrace this challenge, crafting goods that resonate with the market, not only boosting the presence of African products in China but also fostering more jobs, collaborations, and economic growth,” he stated.
Ms. Hannah Ryder, the CEO of DR, also stated that the collaboration between Afreximbank and DR signifies a noteworthy achievement in the promotion of trade and economic cooperation between Africa and China.
In addition, the collaboration between Afreximbank and DR will encompass ongoing activities spanning the next six months, which aim to solidify the sales and partnerships established during the China Africa Economic and Trade Expo.
This underscores the resolute dedication of both Afreximbank and DR towards advancing sustainable economic progress in Africa. Their primary focus lies in enhancing exports of Made-in-Africa products to China on a larger scale and with improved efficiency.
Through the utilization of their distinct networks, market expertise, and financial strengths, the collaboration will expedite and cost-effectively facilitate the entry of African brands into the Chinese market.
This endeavor, in turn, will reinforce the expansion of African economies, contribute to the generation of employment opportunities, and nurture the development of local communities.